d.light, a global provider of affordable household solar products and financing for low-income households, announced on July 17th the closing of a new securitization facility.
This facility will purchase $176 million of receivables in Kenya, Tanzania, and Uganda.
Fueling Growth of PayGo Consumer Credit
d.light plans to utilize this multi-currency facility to expand its PayGo consumer credit offering.
This expansion aims to make solar-powered products accessible to a wider range of low-income households and communities currently lacking access to electricity.
CEO Emphasizes Clean Energy Mission
Nedjip Tozun, CEO of d.light, commented on the development, stating: “This new facility marks another significant step forward in d.light’s mission to provide people with affordable energy that is also clean, safe, and sustainable.
It enables us to broaden our reach, allowing millions of off-grid families across Kenya, Tanzania, and Uganda to experience the benefits of solar energy.”
Significant Milestone in Securitized Financing
With this latest facility, d.light has now secured securitized financing with a combined purchase value of $718 million across five separate facilities since 2020. This achievement underscores the company’s commitment to expanding access to clean energy solutions in underserved regions.